During 2018, LeBron Corporation accepts the following notes receivable. a. On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $5,000. b. On June 1, LeBron lends cash to one of the company's vendors by accepting a six-month, 10% note for $9,000. c. On November 1, LeBron accepts payment for prior services by having a customer with a past-due account receivable sign a three- month, 8% note for $4,000. Required: Record the acceptance of each of the notes receivable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $5,000. Note: Enter debits before credits. Date April 01 Record entry General Journal Clear entry Debit Credit View general journal >
During 2018, LeBron Corporation accepts the following notes receivable. a. On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $5,000. b. On June 1, LeBron lends cash to one of the company's vendors by accepting a six-month, 10% note for $9,000. c. On November 1, LeBron accepts payment for prior services by having a customer with a past-due account receivable sign a three- month, 8% note for $4,000. Required: Record the acceptance of each of the notes receivable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $5,000. Note: Enter debits before credits. Date April 01 Record entry General Journal Clear entry Debit Credit View general journal >
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
ChapterD: Notes Payable And Notes Receivable
Section: Chapter Questions
Problem 5P
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